MIR-9.1┃Choose stMATIC collateral parameters on Mimo on Ethereum

Summary:

This proposal aims to set parameters for stMATIC collateral on Polygon.

Rationale:

With the recent vote in favor of integrating stMATIC as new collateral on Polygon, we need to set the different parameters of this collateral.

We propose :

  • Liquidation Ratio: 145%
  • Minimum Collateral Ratio: 150%
  • Debt Limit: 500k PAR
  • Liquidation Bonus: 5%

We have considered the stMATIC risk’s assessment to chose these parameters

(You can find out the risk assessment details of this asset in the previous MIR discussion)

These parameters aim to be balanced for the users and the protocol, but they were also chosen in a low-risk way to be able to run experiment parameters on the pool without possible issues for the users and the protocol given the potential smart contract risks that may exist.

Note that these parameters are likely to be changed in the future according to the first data that we will collect.

Means:

  • Human resources: Multisig DAO signers will need to sign and execute transactions to add stMATIC as collateral on Mimo.
  • Treasury resources: There is no cost for the treasury to add stMATIC on Mimo Polygon.

Technical implementation:

  1. Add stMATIC in the ConfigProvider Contract with all parameters decided by the Mimo governance.
  2. Set the chainlink oracle related to the UNI: stMATIC/USD into PriceFeed Contract

Voting options:

  • Accept these new parameters
  • Against these new parameters
  • Abstain

Authors: @starny & @JeanBrasse from Mimo Labs

Community poll:

  • Accept these new parameters
  • Against these new parameters
  • Abstain

0 voters

1 Like

:zap: MIR-9.1┃Choose stMATIC collateral parameters on Mimo on Ethereum is now live on Snapshot !

The vote started the 16th November morning at 10am CET and finish the 19th November CET.

:ballot_box: Vote here :point_down:
https://snapshot.org/#/mimo.eth/proposal/0xc34fca0135fa72e4df1640c1a373271f2aaa36c3482362e4b2d2733ac8c5bc30

1 Like

With over 3,8M votes from vMIMO holders, MIR-9.1 was approved at 100%.

The Mimo DAO will soon implement stMATIC as collateral on Polygon with its voted parameters

Result:
https://snapshot.org/#/mimo.eth/proposal/0xc34fca0135fa72e4df1640c1a373271f2aaa36c3482362e4b2d2733ac8c5bc30

1 Like